Shares of Putnam Premier Income Trust (NYSE:PPT) traded up 5.1% on Wednesday following a dividend announcement from the company. The company traded as high as $4.34 and last traded at $4.11, 481,570 shares were traded during trading. An increase of 2% from the average session volume of 473,549 shares. The stock had previously closed at $3.91.
The newly announced dividend which will be paid on Friday, May 1st. Investors of record on Friday, April 24th will be issued a dividend of $0.035 per share. This represents a $0.42 dividend on an annualized basis and a yield of 9.88%. The ex-dividend date of this dividend is Thursday, April 23rd.
The stock’s fifty day moving average is $4.99 and its 200-day moving average is $5.29.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC purchased a new position in Putnam Premier Income Trust during the third quarter valued at $53,000. Clear Creek Financial Management LLC increased its stake in shares of Putnam Premier Income Trust by 11.5% during the third quarter. Clear Creek Financial Management LLC now owns 18,419 shares of the investment management company’s stock worth $99,000 after purchasing an additional 1,900 shares in the last quarter. Boenning & Scattergood Inc. purchased a new stake in shares of Putnam Premier Income Trust during the fourth quarter worth about $187,000. Chapwood Capital Investment Management LLC acquired a new position in shares of Putnam Premier Income Trust during the 4th quarter worth about $338,000. Finally, Quad Cities Investment Group LLC raised its position in shares of Putnam Premier Income Trust by 3.1% during the 4th quarter. Quad Cities Investment Group LLC now owns 494,805 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 14,961 shares during the last quarter. 14.87% of the stock is currently owned by hedge funds and other institutional investors.
Putnam Premier Income Trust Company Profile (NYSE:PPT)
Putnam Premier Income Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the public fixed income markets across the globe. The fund primarily invests in U.S. high-grade and high-yield bonds with an average credit quality of BBB by S&P Corporation.
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